Recently asked questions relating to Weymouth leasehold conveyancing
I have recently realised that I have 68 years left on my flat in Weymouth. I am keen to extend my lease but my landlord is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the lessor. In some cases a specialist would be useful to try and locate and to produce a report which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court covering Weymouth.
Looking forward to exchange soon on a ground floor flat in Weymouth. Conveyancing lawyers inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Weymouth should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- Defining your rights in relation to the communal areas in the building.For example, does the lease contain a right of way over an accessway or hallways?
- Does the lease require carpeting throughout thus preventing wood flooring?
- Repair and maintenance of the flat
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- What the implications are if you breach a clause of your lease?
I have just started marketing my 2 bed apartment in Weymouth.Conveyancing has not commenced but I have just received a yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Weymouth. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Weymouth ?
The majority of houses in Weymouth are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Weymouth in which case you should be looking for a Weymouth conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.
I am a negotiator for a busy estate agent office in Weymouth where we see a number of leasehold sales put at risk due to short leases. I have been given conflicting advice from local Weymouth conveyancing firms. Could you clarify whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a 2 bed flat in Weymouth, conveyancing was carried out in 2010. Can you work out an approximate cost of a lease extension? Equivalent properties in Weymouth with over 90 years remaining are worth £238,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2098
With only 72 years unexpired the likely cost is going to be between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.